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Southwest Airlines is giving employees 6 weeks of extra pay

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Posted at 1:04 PM, Feb 09, 2020
and last updated 2020-02-09 14:04:34-05

Southwest Airlines announced Thursday their employees will receive a $667 million bonus as part of its profit sharing program.

This $667 million profit sharing award is equivalent to $1.8 million a day, and is more than six weeks' pay for every eligible employee.

The airline was plagued with problems in 2019 after grounding its Boeing 737 Max aircrafts.

"Our employees delivered outstanding results despite a challenging year," said Gary Kelly, chairman of the board and chief executive officer of Southwest Airlines in a written statement. "We recognize their resolve, persistence, resilience, and devotion to each other, our customers and our cause."

Southwest Airlines said on March 13, 2020, most Employees will receive 10% of eligible compensation as a contribution to the ProfitSharing Plan, and the remainder—approximately 2.2 percent—in cash. Some employees will receive the entire bonus as a contribution to their retirement accounts.

This is the 46th consecutive year Southwest Airlines has rewarded its employees with a profit sharing award.